Would You Stay with Merck for the Pension?

[anonymous]

I suggest everyone read "Retirement Heist" Its eye-opening expose on how companies use the retirement fund for personal and company benefit while at the same time screwing retirees. Every time they change the retirement plan its net effect is to screw retirees.

Really ?

 

[anonymous]

I stayed and took a lump sum well over 2.5 million. Those were the days!

 

[anonymous]

It wont be here much longer. The fools hired now get a small cash balance equal,to 3.5 % of their total salary. Big money gone at end of 2019! Mass exodus then!!!

 

[anonymous]

I stayed and took a lump sum well over 2.5 million. Those were the days!

Not as much as me, poor guy!

 

[anonymous]

Yes I would

 

[anonymous]

It is individualized as it depends on one's age and how many years they have put in and how many more years they feel they can endure the emotional abuse. Some are masochists.

 

[anonymous]

"Emotional abuse" pretty much sums up this entire industry!!!

 

[anonymous]

"Emotional abuse" pretty much sums up this entire industry!!!

It is very emotional selecting deli for all the big added RNs. I am depressed!

 

[anonymous]

No

 

[anonymous]

"Emotional abuse" pretty much sums up this entire industry!!!

Add in "Self-esteem" abuse. How many of us want our kids to become pharma reps?

 

[anonymous]

No one got 2.5; you will get 2 weeks for every year plus unemployment. Depending your age it may pay to stay and wait.

 

[anonymous]

It won't be around in the near future. The pension changes in 2020. After that it is anybody's guess of how long it will limp along.

 

[anonymous]

Cash balance in 2020. Nah.

 

[anonymous]

No one got 2.5; you will get 2 weeks for every year plus unemployment. Depending your age it may pay to stay and wait.

unemployment eligibility varies by state

 

[anonymous]

Merck's pension will go the way of the dinosaurs. Too bad. This company is headed right down the hopper. Very sad!!!

 

[anonymous]

No one got 2.5; you will get 2 weeks for every year plus unemployment. Depending your age it may pay to stay and wait.

I walked away with 1.7M, turned it into 2.5 within 2 years. Glad I learned how to invest in my spare time when I was "working". No regrets about leaving. Make your own future. Don;t just wait to see what they will hand your when you are walking out the door.

 

[anonymous]

My information on the pension over 1 Million is correct. I worked for 28 years I was not a CEO or VP. This does not include the large 401K that I accumulated as well. I of course was part of the rule of 85. Number of years plus age to calculate retirement.

 

[anonymous]

Agree I retired in 2011 as an HSA (position now replaced) I I was with Merck for 40 yrs... My pension check was 1.6 Million and a 401k valued at 1,5 million... all rolled into an IRA. Best decision I made...combined with my other financial taxable accounts, since 2011 my assets have grown by 2 million

 

[anonymous]

Walking away with 1.7 million means you spent your life at Merck Staying for a pension was of the past and it totally depended upon one's age; forget the job market after a certain age as there is age d.

 

[anonymous]

Agree I retired in 2011 as an HSA (position now replaced) I I was with Merck for 40 yrs... My pension check was 1.6 Million and a 401k valued at 1,5 million... all rolled into an IRA. Best decision I made...combined with my other financial taxable accounts, since 2011 my assets have grown by 2 million

Great. 5M is the sweet spot. You can now relax. Congrats and enjoy your retirement.